Industry

Three industry veterans – one with more than four decades of experience – oversaw more than $205 million in client assets, according to Raymond James.

"I expect a seismic change as product manufacturers will have to adapt to the new rule," says NextCapital's Rob Forreger.

The wirehouse's latest hires will support client development and strengthen product delivery, according to Morgan Stanley.

Industry insiders say wealth management is going through its biggest upheaval in decades.

"It was terribly important to us that we were participating and supporting a partnership with a firm that is innovating and has strong backing," said Richard Steinmeier, head of the Wealth Advice Center at UBS.

Pimco's $1.5 trillion in assets under management are down 25% from a high of $2 trillion in the first quarter of 2013.

The year-old automated advice service is revealing some new ways advisers use robos — and it's quelling some big fears.

The large Los Angeles institution launched the program mid-April with one adviser and a program manager and is looking to add more advisers soon.

Former Edward Jones advisor says he left for the freedom to own and market his own eponymous firm as he wishes.

With competition to RIAs increasing, the financial services giant will promote the value of independent advice.